Culture and Commerce: The Value of Entrepreneurship in Creative Industries

Mukti Khaire

Abstract

This book describes how commercial ventures in creative industries have cultural impact. Since royal patronage of arts ended, firms in the creative industries, working within the market mechanism, have been responsible for the production and distribution of the cultural goods—art, books, films, fashion, and music—that enrich our lives. This book counters the popular perception that this marriage of art and business is a necessary evil, proposing instead that entrepreneurs who introduce radically new cultural works to the market must bring about a change in society’s beliefs about what is appro ... More

This book describes how commercial ventures in creative industries have cultural impact. Since royal patronage of arts ended, firms in the creative industries, working within the market mechanism, have been responsible for the production and distribution of the cultural goods—art, books, films, fashion, and music—that enrich our lives. This book counters the popular perception that this marriage of art and business is a necessary evil, proposing instead that entrepreneurs who introduce radically new cultural works to the market must bring about a change in society’s beliefs about what is appropriate and valuable to encourage consumption of these goods. In so doing, these pioneer entrepreneurs change minds, not just lives; the seeds of cultural change are embedded in the world of commerce. Building on theories of value construction and cultural production, integrated with field research on pioneer firms (like Chanel and the Sundance Institute) and new market categories (like modern art and high fashion in India), the author develops conceptual frameworks that explain the structure and functioning of creative industries. Through a systematic exposition of the roles and functions of the players in this space—creators, producers, and intermediaries—the book proposes a new way to understand the relationship among markets, entrepreneurship, and culture. Khaire also discusses challenges inherent in being entrepreneurial in the creative industries, paying special attention to the implications of digitalization and globalization, and suggests prescriptive directions for individuals and firms wishing to balance pecuniary motivations with cultural convictions in this rapidly changing world.

Part IV The Creative Industries: Past, Present, and Future

End Matter

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